BlueStone Jewellery IPO Listing Tomorrow; Check Latest GMP Ahead Of Market Debut
Shares of BlueStone Jewellery & Lifestyle Ltd. are expected to be listed on the BSE and NSE on Tuesday, August 19.
The share allotment status for the BlueStone Jewellery IPO was decided on August 14. With the listing expected tomorrow, investors who applied for the shares are now keeping a close eye on the grey market premium (GMP).
On August 13, the third and final day of bidding, the BlueStone Jewellery IPO was subscribed 2.7 times, attracting bids for 4,46,22,300 shares against the 1,65,14,421 shares available.
Current trends in the grey market premium suggest that the company's shares are likely to have a muted debut on the stock exchanges.
BlueStone Jewellery IPO Listing Date
Shares of BlueStone Jewellery & Lifestyle Ltd. are expected to be listed on the BSE and NSE on Tuesday, August 19.
The company will transfer shares to the demat accounts of those who were allotted shares on August 18. Refunds for unsuccessful applicants will also be processed on the same day.
BlueStone Jewellery IPO GMP Today
According to InvestorGain, the GMP for the BlueStone Jewellery IPO stood at Rs 0 as of 4:00 p.m. on August 18. The latest GMP indicates a flat listing, this means shares of the company are expected to list on BSE and NSE at Rs 519 apiece, the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Use Of Proceeds
The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.
BlueStone Jewellery IPO: All You Need To Know
The BlueStone Jewellery IPO, a book-building issue, was valued at Rs 1,540.65 crore. It was made up of two parts: a fresh issue of 1.59 crore shares worth Rs 820 crore, and an offer-for-sale (OFS) of 1.39 crore shares valued at Rs 720.65 crore.
To apply, retail investors were required to bid for a minimum of one lot, which contained 29 shares and cost Rs 14,268. The share price was set within a band of Rs 492 to Rs 517 per share.
The subscription period for the IPO was from August 11 to August 13. Axis Capital served as the book-running lead manager, while KFin Technologies was the registrar for the issue.
